Title: Oyo's Valuation Plummets to $2.4 Billion in New Funding Round - What Does This Mean for Investors?
As the world's top investment manager and financial market journalist, I bring you the latest news on Oyo, once India's second-most valuable startup. In a recent Series G funding round, Oyo raised $173.5 million, but its valuation has dropped to $2.4 billion, a significant decrease from its previous $10 billion valuation.
Investors like InCred Wealth, Patient Capital, and J&A Partners have shown interest in Oyo, despite the downward trend in its valuation. This decline comes after SoftBank, a major stakeholder in Oyo, internally reduced the startup's valuation to $2.7 billion in 2022.
Oyo's list of backers includes big names like SoftBank, Airbnb, Peak XV Partners, Microsoft, and Lightspeed Venture Partners. However, the startup faced setbacks earlier this year when it withdrew its draft red herring prospectus for an initial public offering for the second time. The Indian market regulator, SEBI, has not yet approved Oyo's application for an IPO.
In conclusion, the decrease in Oyo's valuation and the challenges it faces in going public may impact investors' decisions. It is essential for investors to stay informed about the latest developments in the market to make well-informed financial decisions.